EURUSD Maintains Upside Offensive

EURUSD: Having rallied to close above the 1.1390 level the past week, risk of further upside is likely in the new week. However, you should keep your eyes on the 1.1449 and the 1.1533 zone where strong resistance levels are located. Resistance is seen at the 1.1533 level with a cut through here opening the door for more upside towards the 1.1600 level. Further up, resistance lies at the 1.1650 level where a break will expose the 1.1700 level. Conversely, support lies at the 1.1400 level where a violation will aim at the 1.1350 level. A break of here will aim at the 1.1200 level with a turn below that level targeting the 1.1150 level. All in all, EUR faces recovery threats having rallied the past week.

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